Question: The below material standards have been established for a particular product: Standard quantity per unit of production 6.2 pounds standard price ps 15.00 per pound

The below material standards have been established for a particular product:


Standard quantity per unit of production6.2pounds
standard priceps15.00per pound


The below data refers to the operations related to the product of the last month:


purchased actual materials7,500pounds
Actual cost of purchased materialsps64,680
Actual materials used in production.7,000pounds
actual output880units

The direct materials purchase variance is calculated when the materials are purchased.

Required:

What is the variance of the quantity of materials for the month?

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